SAN DIEGO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP, a leading stockholder rights law firm, announced that it is investigating claims on behalf The Duckhorn Portfolio Inc (NYSE: NAPA) shareholders concerning potential breaches of fiduciary duties related to the proposed sale of the Company to Butterfly Equity a Los Angeles-based private equity firm.
On October 7, 2024, Duckhorn officially announced its acceptance of an acquisition proposal from Butterfly Equity, whereby shareholders are to be compensated at the rate of $11.10 per share via an all-cash transaction, after which Duckhorn will transition to a privately held entity.
Johnson Fistel’s investigation focuses on whether Duckhorn’s board failed to satisfy its duties to the Company's stockholders, including whether the board sufficiently pursued alternatives to the acquisition, and whether the board secured the best possible price for Duckhorn’s shares. It is particularly pertinent to note analyst projections for earnings and revenue growth, and Duckhorn shares have historically traded at a much higher price.
Stockholders of Duckhorn are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
https://www.johnsonfistel.com/investigations/the-duckhorn-portfolio-inc
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